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Financial Planning / Tax Strategies
|Subject: Re: Carry Over of Capital Losses||Date: 9/18/2012 6:23 PM|
|Author: TMFPMarti||Number: 116610 of 125707|
I did not assume anything regarding DW's stock sale since she sold all the shares; thus there is no basis going forward.
The "going forward" of which I spoke is from DH's date of death. IF your original statement that there was a $9,000 realized capital loss for tax purposes in 2012 is correct, your statements about how that loss is used up are correct.
OTOH, if the stock sold was community property Bob correctly points out that its basis would change at DH's death even though it was in an account solely in her name. It's still possible that a later sale of it could yield a $9,000 loss, but Bob wanted to make sure you were aware of the basis change for community property upon the death of the spouse.
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